New Video Update on the Gold Market

May 6, 2009: 7:00 PM CST

What are the “Trade Triangles” saying about the gold market?  Fresh from his recent vacation to beautiful New Zealand, Adam Hewison stepped back into the “Digital Den” as they call it at Market Club and released this most recent updated video on gold where he walks you through gold’s multi-timeframe structure, Fibonacci, and possible opportunities, similar to that of which I showed you in my recent post “Gold Inflects off Key Support.”


(Clicking the image takes you to the video page)

Formally titled “Gold… Time to Look at this Market Again!“, Adam writes in the introduction to the video:

“Today we’re going to take a look at the gold market. While many traders have been frustrated with this market for the past several month, it has in fact performed quite well given the generally negative feeling for most markets.

While the printing press is going at full-tilt in the US and the fact that most people are not involved in the gold market at the present time, it occurs to us that this market could indeed be setting itself up for a nice rally.

In our new video, I explain in detail some key levels to watch for in the gold market. If these levels are broken then you definitely want to take a position in the direction of the major trend.”

I’m showing the chart of the Fibonacci retracement tool in use with Adam describing a positive momentum divergence in the standard MACD – just as I pointed out on Monday.  I’m thinking Adam is a reader of the blog here – we’re at least on the same wavelength.

Take a look at the video and if you like what you see, browse around to see if you might benefit from a membership to the Market Club.com, where they produce many more videos like this (I’m allowed to share these to you by permission as an affiliate). Plus, you get access to their “trade triangle” technology, scans (to find recent triggers), analysis, and more.

As always, thank you to Adam and staff for making these videos available to us.

Corey Rosenbloom, CMT

8 Comments

8 Responses to “New Video Update on the Gold Market”

  1. meques Says:

    few weeks ago Adam posted videos about S&P, – he said it will fall and pointed out target, hm, exactly dont remember, 500p probably or something like that. And what is now? I just think fibonacci and macd tools.. – isnt enough for good analysis.

  2. meques Says:

    btw, today at bloomberg news i read article – Oil may surge to $71.55 a barrel within two months as prices complete a “head and shoulders” formation, according to technical analysts at Barclays Capital MacNeil Curry. “Head and shoulders” details – dec24, apr21 – shoulders, feb19 – head. Amm, i just didnt get it. If he call that “head and shoulders” so probably any chart pattern we should name like this. I mean the figure, if it is “head and shoulders” is very ugly. At least i dont think it is “head and shoulders”. And current surge of oil prices based not on “head and shoulders” break out but on break out of bull flag.

  3. ashu Says:

    hi Corey
    let me add to adam's analysis a fundamental point, the times of his cycle are very similar to buying patterns of retail customers in india during the festive time dring which many buy gold thus the value is pegged higher durng that zone (feb-mar-apr) and second during (oct-nov), having said that i agree to his point of view on tech analysis but also keeping an eye during second up and down cycle duirng oct-nov to fnd a correct base for gold to move forward.

    thank you for video link hav a nice day
    ashu
    fuzzychaos.blogspot.com

  4. Corey Rosenbloom, CMT Says:

    Meques,

    True, using two indicators won't get good results but Adam's looking at other things as well – he's a 30-year market veteran who has stood the test of time. And to his credit virtually all technical (and to an extent fundamental) indicators were giving sell signals. In disclosure, I was bearish (anticipating a pullback that never seemed to come) based on the technical data I had – as were most if not all of the people with whom I discuss market matters – this rally has gone far beyond what the vast majority thought. Price is king after all.

  5. Corey Rosenbloom, CMT Says:

    Meques,

    Good point re: head and shoulders – I'm not seeing it either. I've been calling it and forecasting a “Rounded Reversal” since November/December thanks to the persistent positive momentum divergences. One could read a H&S into that and the implications are the same, only the Rounded Reversal doesn't give targets.

    I'd look more at the daily EMAs for support and continuation of the price rise. There's something about the $70 level that seems like a magnet….

  6. Corey Rosenbloom, CMT Says:

    Ashu,

    Thank you for sharing – I was not aware of that – very helpful.

    We'll make a note of it and keep watching!

  7. Elise McClintick Says:

    Was the Ultra Bearish scenario accidentally omitted?

  8. Elise McClintick Says:

    Was the Ultra Bearish scenario accidentally omitted?